AVAX 4H – Rising Channel Pullback Into Lower TrendlineAVAX / TetherUSBINANCE:AVAXUSDTBKVIPAVAX on the 4H timeframe is currently trading around 5.992 after pulling back from the upper channel boundary near 6.900–7.000 on August 3 and dropping sharply toward the lower channel boundary near 6.200–6.300, with price now consolidating just above the lower trendline and the 6.300–6.340 horizontal pivot that has been a recurring floor throughout the structure. The chart shows a rising parallel channel originating from the late June low near 5.650–5.700, with the lower trendline connecting the June 25 bottom through the July 25 low near 6.050, the August 1 low near 6.050, and the August 13 low near 6.200–6.250, while the upper trendline has capped the July 4 high near 7.100, the August 3 high near 6.900–7.000, and the August 12 high near 6.800. Price has made three clean oscillations inside the channel, bouncing from the lower boundary each time before pushing back toward the upper trendline. A horizontal reference near 6.300–6.340 has been a consistent pivot throughout the structure and is currently being tested alongside the lower channel boundary, creating a support confluence at the current price zone. The lower channel boundary and the 6.300–6.340 horizontal have now converged at the same level for the third time across this channel, with each prior touch producing a recovery back toward the upper boundary. Key Levels To Watch → 6.900–7.100 Upper channel boundary, resistance (dynamic) → 6.700–6.800 Prior recovery high, resistance → 6.500–6.550 Mid-channel resistance zone → 6.400–6.450 Minor resistance, upper range reference → 6.300–6.340 Horizontal pivot and lower trendline, current confluence test → 6.050–6.100 Prior trendline touches, secondary support → Below 5.920 Channel breakdown, bullish structure at risk A hold at the lower channel boundary and 6.300–6.340 horizontal confluence and a recovery back above 6.400–6.450 would confirm the third trendline touch as support and reopen a move toward the upper channel boundary near 6.700–6.900 on continuation. A confirmed 4H close below the lower channel boundary near 6.200–6.250 would break the structure that has held every significant low since late June, opening downside toward 6.050–6.100 and potentially a full channel breakdown below 5.920. Third lower boundary test with horizontal confluence at same level. Hold 6.300–6.340 → channel intact, upper boundary near 6.700–6.900 back in play. Lose 6.200–6.250 → channel broken, downside toward 6.050–5.920. Bias bullish inside rising channel. Shift only on confirmed close below lower channel boundary.